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P.S. Sundar

Coonoor, Oct. 19 Prices dropped Rs 2 a kg on the average at Sale No 42 of the auctions of Coonoor Tea Trade Association (CTTA) on Friday as the demand was inadequate to absorb the huge offer of 13.07 lakh kg – the highest for 11 weeks except last week.

“CTC leaf market witnessed select demand. Better medium grades lost a rupee a kg. Medium and plainers eased Rs 1-2 a kg. Some invoices suffered withdrawals. Whole leaf orthodox teas eased Rs 3-5. Brokens shed Rs 2-3. Brighter liquoring CTC dusts lost a rupee. Better medium sorts fetched Rs 2 lower. Plainers came to a lower market by Rs 3-4. Browner teas had to be withdrawn. Primary orthodox dusts, however, gained Rs 3-5”, an auctioneer told Business Line.

On the export front, CIS bought bolder grades for Rs 72-74 a kg. Egypt picked up medium sorts in the range Rs 74-82. Pakistan limited its purchases to smaller brokens and fannings. Quotations indicated bids ranging from Rs 70-74 a kg for plain leaf grades and Rs 90-97 for the brighter liquoring sorts. They ranged Rs 72-75 for plain dust grades and Rs 100-116 for brighter liquoring sorts.

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